BNP Paribas Financial Markets Makes New $521,000 Investment in Cogent Biosciences, Inc. (NASDAQ:COGT)

BNP Paribas Financial Markets purchased a new position in Cogent Biosciences, Inc. (NASDAQ:COGT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 66,784 shares of the technology company's stock, valued at approximately $521,000. BNP Paribas Financial Markets owned approximately 0.06% of Cogent Biosciences at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. New York State Common Retirement Fund grew its stake in Cogent Biosciences by 10.5% during the 4th quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company's stock worth $180,000 after buying an additional 2,200 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Cogent Biosciences by 11.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 23,422 shares of the technology company's stock worth $183,000 after buying an additional 2,371 shares during the last quarter. Teacher Retirement System of Texas grew its stake in Cogent Biosciences by 15.4% during the 4th quarter. Teacher Retirement System of Texas now owns 17,983 shares of the technology company's stock worth $140,000 after buying an additional 2,396 shares during the last quarter. MetLife Investment Management LLC grew its stake in Cogent Biosciences by 6.3% during the 4th quarter. MetLife Investment Management LLC now owns 56,750 shares of the technology company's stock worth $443,000 after buying an additional 3,382 shares during the last quarter. Finally, NEOS Investment Management LLC grew its stake in Cogent Biosciences by 10.9% during the 4th quarter. NEOS Investment Management LLC now owns 51,926 shares of the technology company's stock worth $405,000 after buying an additional 5,111 shares during the last quarter.

Cogent Biosciences Price Performance

Cogent Biosciences stock traded up $0.63 during trading hours on Thursday, hitting $5.51. 3,185,681 shares of the stock traded hands, compared to its average volume of 1,270,519. Cogent Biosciences, Inc. has a 1 year low of $3.72 and a 1 year high of $12.61. The stock has a market capitalization of $627.35 million, a price-to-earnings ratio of -2.22 and a beta of 1.91. The firm's 50 day moving average price is $5.00 and its 200-day moving average price is $7.15.

Cogent Biosciences (NASDAQ:COGT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported ($0.52) EPS for the quarter, topping analysts' consensus estimates of ($0.56) by $0.04. Research analysts forecast that Cogent Biosciences, Inc. will post -2.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on COGT shares. Wedbush restated a "neutral" rating and set a $11.00 target price on shares of Cogent Biosciences in a research note on Tuesday, February 25th. Needham & Company LLC restated a "hold" rating on shares of Cogent Biosciences in a research note on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price target on Cogent Biosciences from $21.00 to $25.00 and gave the company an "overweight" rating in a research note on Thursday. Robert W. Baird dropped their price target on Cogent Biosciences from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Piper Sandler upgraded Cogent Biosciences to a "strong-buy" rating in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.57.

Cogent Biosciences Profile

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.